All eyes on Vienna

June 28, 2019

As markets observers are preparing for the upcoming OPEC meeting in Vienna, Austria, Rystad Energy's key analysts are pleased to share some of their insights with our readers. 

The Organization of the Petroleum Exporting Countries (OPEC) plus Russia and several other supportive producers, known as OPEC+, have an agreement to cut their combined oil production that will expire at the end of this month. Talks on whether to extend the cuts are slated for 1-2 July in Vienna.

Click here to see the main take aways from the opening speech of our founder and CEO, Jarand Rystad, that he presented to OPEC Secretary General Mohammed Barkindo and other notabilities at OPEC's headquarters earlier this month.

In this video chief oil analyst Bjørnar Tonhaugen gives his assessment ahead of the crucial meeting. As reported by Houston Chronicle, Tonhaugen does not believe there will be room for OPEC to increase their output this year. Click here to access a recent client webinar where Tonhaugen and senior analyst Christopher Page dived deeper into the topic.

 

A bar chart showing the call-on-OPEC crude (demand) versus OPEC actual crude production in Million barrels per day from 2018 to 2020 quarterly. Source: Rystad Energy OilMarketCube

 

Adding to OPEC's difficulties is the nervous sentiment in energy markets thanks to increasing US-Iran tensions. Per Magnus Nysveen, senior partner and head of analysis at Rystad Energy, discusses the situation with Bloomberg TV's David Westin and Alix Steel on "Bloomberg Daybreak: Americas."

Press Release June 18, 2019: OPEC Meeting preview
Press Release June 28, 2019: OPEC's choices are limited


Have a look at our product pages for more information on the Oil Market Cube, Oil Market Analytics and the Oil Market Update.

Questions or requests?

marketing@rystadenergy.com

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Contacts:

Bjørnar Tonhaugen
Head of Oil Market Research
Phone: +47 24 00 42 00
bjornar.tonhaugen@rystadenergy.com

 

About Rystad Energy

Rystad Energy is an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry. Our products and services cover energy fundamentals and the global and regional upstream, oilfield services and renewable energy industries, tailored to analysts, managers and executives alike. Rystad Energy is headquartered in Oslo, Norway with offices in London, New York, Houston, Stavanger, Aberdeen, Moscow, Rio de Janeiro, Singapore, Bangalore, Tokyo, Sydney and Dubai.